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London mariners face price competition despite $850mn Costa loss
Although the marine market suffered the worst loss in its history with the Costa Concordia disaster, competition from markets in Asia and Scandinavia is testing the resolve of London market underwriters to impose higher rates
18 April 2012
Berkshire shares slip 1% on Buffett cancer diagnosis
Shares in Berkshire Hathaway held up today following the news that feted CEO Warren Buffett had been diagnosed with prostate cancer, with the company losing just 1 percent of its vast market cap.
18 April 2012
Flagstone run-off bidders face $50mn severance obstacle
Run-off companies looking to acquire Flagstone Re may have to contend with hefty severance costs for senior executives and staff that are as high as $50mn
18 April 2012
Repsol has no political risk insurance in Argentina
The insurance market will escape what could have been a monster claim from Spanish oil company Repsol following the expropriation of its Argentine operations as it does not purchase relevant political risk cover, The Insurance Insider has learned.
18 April 2012
Brown & Brown confirms US casualty rate hardening
Retail broker Brown & Brown has confirmed there is "constant and consistent pressure" for property and some casualty rates to increase across the US
18 April 2012
Insurers to avoid loss from latest Chile aftershock
A magnitude 6.7 earthquake and magnitude 5.1 aftershock that struck offshore of central Chile late on 16 April did not cause major damage to surrounding cities, said cat modelling firm AIR Worldwide
18 April 2012
Warren Buffett has cancer; not considered life threatening
Warren Buffett, the CEO of investment conglomerate Berkshire Hathaway, has been diagnosed with Stage 1 prostate cancer.
18 April 2012
Willis says energy markets are stable but softening possible
Willis has identified a prevailing but fragile stability in energy markets, with modest rating increases for upstream risks and the downstream market effectively remaining flat
17 April 2012
XL restructures casualty insurance operations
The international insurance segment of XL has revealed a new structure at its primary casualty business, which serves large corporations in Europe, Asia, Australia and Latin America.
17 April 2012
Chartis appetite for property cat remains strong
Peter Eastwood, Americas CEO at Chartis, says property cat has been targeted as an area for rate rises at both the insurer and its excess and surplus subsidiary Lexington following the increased tornado loss activity of 2011-12
17 April 2012
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